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We conduct a two-phase laboratory experiment, separated by several weeks. In the first phase, we conduct urn games intended to measure ambiguity aversion on a representative population of undergraduate students. In the second phase, we invite the students back with four different solicitation...
Persistent link: https://www.econbiz.de/10014209423
We investigate optimal system design in a multi-location system in which supply is subject to disruptions. We examine the expected costs and cost variances of the system in both a centralized and a decentralized inventory system. We show that, when demand is deterministic and supply may be...
Persistent link: https://www.econbiz.de/10014219184
There are numerous risk factors in asset pricing models that have been identified over the years. In this paper, we address the question of whether factors constructed using ESG (Environmental, Social, Governance) scores could potentially meet the necessary requirements for risk factors in...
Persistent link: https://www.econbiz.de/10014354448
A risk averse insurance company which knows the quota of coverage demanded by a client at the status-quo premium but has imperfect information otherwise may choose not to change the premium although an else identical risk neutral company would do so, provided the variance of the company’s...
Persistent link: https://www.econbiz.de/10014357502
Persistent link: https://www.econbiz.de/10015372133
"Preface I did not want to write this book. I wanted to buy it. Risk analysis is mature enough that it needs a principles text. There are many wonderful books available on the subject of risk. In fact, for years, in the training I have done, I used to schlep a dozen of them around for students...
Persistent link: https://www.econbiz.de/10009378341
Over the past 50 years, the number of drought events in Romania has increased, with their impact on the population, economy, and environment being intensified by climate change. This report provides a comprehensive analysis of the hazard and current and future drought risks in Romania. It...
Persistent link: https://www.econbiz.de/10015372416
The Middle East and North Africa faces significant climate challenges, such as increasing temperatures, heightened flood risks, frequent droughts, and growing air pollution issues. These challenges are compounded by the large proportion of the population living below the poverty line in some...
Persistent link: https://www.econbiz.de/10015372441
Inflation and inflation uncertainty are critical factors influencing the functioning of markets and thus the efficient … flow of economic activities. In this study, we investigated the effects of inflation and inflation uncertainty on growth in … uncertainty on growth from the long-run effects. Also, unlike the previous studies, we examined whether increases in inflation …
Persistent link: https://www.econbiz.de/10012176383
Implicit contingent liabilities, such as those generated by natural disasters, are often not quantified in the government balance sheet. However, when they materialize, they place pressure on government finances that may raise interest expenditures and financial risks. Understanding the impacts...
Persistent link: https://www.econbiz.de/10012700730